50-plus nations have reached out for tariff talks

FORT LAUDERDALE, Fla. (AP) — Prime administration officers stated Sunday that greater than 50 nations focused by President Donald Trump’s new tariffs have reached out to start negotiations over the sweeping import taxes which have despatched monetary markets reeling, raised fears of a recession and upended the worldwide buying and selling system.

The upper charges are set to be collected starting Wednesday, ushering in a brand new period of financial uncertainty with no clear finish in sight. Treasury Secretary Scott Bessent stated unfair commerce practices usually are not “the type of factor you’ll be able to negotiate away in days or even weeks.” The US, he stated, should see “what the nations provide and whether or not it’s plausible.”

Trump, who spent the weekend in Florida enjoying golf, posted on-line that “WE WILL WIN. HANG TOUGH, it received’t be straightforward.” His Cupboard members and financial advisers have been out in pressure Sunday defending the tariffs and downplaying the results for the worldwide economic system.

“There doesn’t must be a recession. Who is aware of how the market goes to react in a day, in per week?” Bessent stated. “What we’re is constructing the long-term financial fundamentals for prosperity.”

Trump’s tariff blitz, introduced April 2, fulfilled a key marketing campaign promise as he acted with out Congress to redraw the foundations of worldwide commerce. It was a transfer many years within the making for Trump, who has lengthy denounced overseas commerce offers as unfair to the U.S. He’s playing that voters will probably be prepared to endure larger costs for on a regular basis gadgets to enact his financial imaginative and prescient.

Nations are scrambling to determine how to reply to the tariffs, with China and others retaliating rapidly.

Prime White Home financial adviser Kevin Hassett acknowledged that different nations are “offended and retaliating,” and, he stated, “by the best way, coming to the desk.” He cited the Workplace of the U.S. Commerce Consultant as reporting that greater than 50 nations had reached out to the White Home to start talks.

Including to the turmoil, the brand new tariffs are hitting American allies and adversaries alike, together with Israel, which is going through a 17% tariff. Israeli Prime Minister Benjamin Netanyahu is ready to go to the White Home Monday, together with his workplace saying the tariffs can be a degree of debate with Trump together with the struggle in Gaza and different points.

One other American ally, Vietnam, a significant manufacturing middle for clothes, has additionally been in contact with the administration concerning the tariffs. Trump stated Vietnam’s chief stated in a phone name that his nation “desires to chop their Tariffs right down to ZERO if they can make an settlement with the U.S.” And a key European accomplice, Italian Premier Giorgia Meloni, stated she disagreed with Trump’s transfer however was “able to deploy all of the instruments — negotiating and financial — essential to help our companies and our sectors that could be penalized.”

Commerce Secretary Howard Lutnick made clear there was no suspending tariffs which are days away.

“The tariffs are coming. After all they’re,” he stated, including that Trump wanted to reset international commerce. However he dedicated solely to having them “undoubtedly” stay “for days and weeks.”

In Congress, the place Trump’s Republican Get together has lengthy championed free commerce, the tariff regiment has been met with applause but in addition vital unease.

A number of Republican senators have already signed onto a brand new bipartisan invoice that might require presidents to justify new tariffs to Congress. Lawmakers would then must approve the tariffs inside 60 days, or they’d expire. Nebraska GOP Rep. Don Bacon stated Sunday that he would introduce a Home model of the invoice, saying that Congress must restores its powers over tariffs.

“We gave a few of that energy to the manager department. I feel, in hindsight, that was a mistake,” stated Bacon, including that getting a measure handed can be difficult except the monetary markets proceed to react negatively and different indicators reminiscent of inflation and unemployment shift.

Wyoming’s John Barrasso, the No. 2 member of the Senate’s GOP management, stated Trump is “doing what he has each proper to do.” However, he acknowledged, “there’s concern, and there’s concern throughout the nation. Individuals are watching the markets.”

“There’ll be a dialogue within the Senate,” Barrasso stated of the tariffs. “We’ll see which means the dialogue goes.”

Trump’s authorities cost-cutting guru, billionaire businessman Elon Musk, had been comparatively silent on Trump’s tariffs, however stated at a weekend occasion in Italy that he want to see the U.S. and Europe transfer to “a zero-tariff state of affairs.” The remark from the Tesla proprietor who leads Trump’s Division of Authorities Effectivity drew a rebuke from White Home commerce adviser Peter Navarro.

“Elon, when he’s on his DOGE lane, is nice. However we perceive what’s happening right here. We simply have to know. Elon sells vehicles,” Navarro stated. He added: “He’s merely defending his personal curiosity as any enterprise particular person would do.”

Lawrence Summers, an economist who was treasury secretary below Democratic President Invoice Clinton, stated Trump and his financial staff are sending contradictory messages if they are saying they’re fascinated by reviving manufacturing whereas nonetheless being open to negotiating with commerce companions.

If different nations get rid of their tariffs, and the U.S, does, too, he stated, “it’s simply making a deal, then we don’t increase any income nor can we get any companies to relocate to the US. If it’s a everlasting income supply and making an attempt to get companies to relocate to the US, then we’re going to have these tariffs completely. So the president can’t have it each methods.”

Bessent was on NBC’s “Meet the Press,” Hassett and Summers appeared on ABC’s “This Week,” Lutnick and Barrasso have been on CBS’ “Face the Nation” and Navarro was interviewed on Fox Information Channel’s “Sunday Morning Futures.”

Related Press writers Giada Zampano in Rome and Fatima Hussein in Jupiter, Florida, contributed to this report.